Morocco: Innov Invest has financed 68 startups between 2017 and 2019 for 46.3 million dirhams

The Central Guarantee Fund is the manager of the Innov Invest fund.

A total of 68 Moroccan startups benefited from the financing of the Innov Invest fund for a value of 46.3 million dirhams, or approximately 4.8 million between October 2017 and March 2019 according to a statement from the Central Guarantee Fund (CCG).

Nearly 92% of these companies obtained pre-start-up and seed funding amounting to 12.3 million dirhams. The remaining 34 million were allocated as venture capital to six innovative startups.

Launched in October 2017, the Innov Invest fund aims to fund at least 300 innovative projects by 2022.

In July 2018, a total of 12 startups benefited from 3 million dirhams of the fund’s financing for « Innov Idea » (financial aid) and « Innov Start » (loan of honor) products, as part of the component « Accompaniment of startups ».

LEAVE A REPLY

Please enter your comment!
Please enter your name here